Strategic Outsourcing in Procurement and Logistics

Best-in-class companies recognize strategic sourcing as a value creator and consider it to be integral to their overall strategies for growth. To become a world-class procurement organization in the 21st century, a company requires various competencies that will enable it to effect strategic sourcing and transfer value throughout the supply chain from supplier to customer.
 

Strategic sourcing is far more than a simple allocation of business to suppliers by the purchasing function. It is a multi-functional activity that produces a plan of action for several years. Successful sourcing strategies are built on a rigorous analysis of the buy, the supply industry, and the fundamental drivers of value.

• Develop a strategic sourcing strategy that achieves tangible results
• Implement the strategic sourcing strategy to maximize total cost savings
• Assess and prioritize opportunities for savings
• Establish processes to manage the performance of the strategic sourcing contract
• Apply best practices and lessons learned in strategic sourcing efforts